Guideline Value for G.N.T. Road

G.N.T. Road guideline value

The current guideline value of G.N.T. Road in Puzhal village, under the Redhills SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is classified as Commercial Class I Type - I.

How the guideline value of G.N.T. Road has changed

The guideline value for G.N.T. Road has seen several revisions over the years. In 2002, the value was Rs 2,233 per sq.ft. It increased to Rs 520 per sq.ft in 2003, then rose significantly to Rs 800 per sq.ft in 2007. The value further increased to Rs 3,000 per sq.ft in 2012, before dropping to Rs 2,010 per sq.ft in 2017. The 2023 revision recorded a value of Rs 3,000 per sq.ft, and the most recent revision in 2024 has set it at Rs 3,300 per sq.ft.

Between these revisions, there have been notable changes. From 2002 to 2003, the value decreased by 77%. The value then rose by 54% from 2003 to 2007, followed by a substantial increase of 275% from 2007 to 2012. The value decreased by 33% from 2012 to 2017, and then increased by 49% from 2017 to 2023. Finally, the value rose by 10% from 2023 to 2024.

Guideline values in Puzhal

Puzhal village has a total of 270 streets under the Redhills SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value for these streets is Rs 1,102 per sq.ft, placing G.N.T. Road's 2024 figure above this median.

• G.N.T. Road Check Post: Rs 3,300 per sq.ft (2024)
• Gayathri Avenue: Rs 1,100 per sq.ft (2024)
• Gangadharan Street: Rs 1,650 per sq.ft (2024)
• Gangadharan 1st Street: Rs 1,650 per sq.ft (2024)
• Gangadaran Street: Rs 1,650 per sq.ft (2024)
• Gurusanthi Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in G.N.T. Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total cost for these fees would be Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers G.N.T. Road?

The Sub Registrar Office that covers G.N.T. Road is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Puzhal

The guideline value plays a crucial role in property transactions in Puzhal. When a property is registered, the guideline value is used to determine the stamp duty and registration fees that must be paid. It serves as a benchmark for the minimum value of the property, ensuring that the fees reflect the market conditions.

Buyers and sellers should be aware that the guideline value is subject to periodic revisions by the Registration Department. It is essential to check the current guideline value before proceeding with any property transactions to ensure compliance with the latest regulations.

Frequently asked questions

What is the current guideline value of G.N.T. Road?

The current guideline value of G.N.T. Road is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,233 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, with several revisions in between.

What is the registration office for G.N.T. Road?

The registration office for G.N.T. Road is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What are the stamp duty rates for properties in G.N.T. Road?

The stamp duty rate for properties in G.N.T. Road is 7% of the guideline value or the sale price, whichever is higher.

How can I calculate the registration fees for a property?

You can calculate the registration fees by using the guideline value and applying the registration fee rate of 2%. For a detailed calculation, you can use the stamp duty and registration fee calculator.